SPIELBERG, Austria (AP) — The Austrian Grand Prix is set to stay on the Formula 1 schedule until 2041 after a long-term extension was announced Sunday for the race at the Red Bull Ring.

Austria already had a contract through 2030, agreed two years ago, and the new extension sees it match the Miami Grand Prix as the only F1 events contracted into the 2040s.

The Austrian Grand Prix is closely connected with Red Bull's presence in F1.

The Red Bull company's co-founder, Dietrich Mateschitz, who died in 2022, funded the renovations that allowed it to return to the calendar in 2014 after an 11-year absence, and rebranded it as the Red Bull Ring.

“I am delighted that Formula 1 will remain at the Red Bull Ring for many years to come," his son Mark Mateschitz said in a statement Sunday.

"I am proud to continue my father’s legacy and to preserve the rich history of motor racing in (the region of) Styria and at the Red Bull Ring – with and, above all, for the people of the region. Austria’s close ties to Formula 1 are an excellent foundation for our long-term partnership. Working together, we intend to continue this success story for many years to come.”

It continues a trend by F1 of planning for decades to come with unusually long deals for certain circuits.

The Canadian Grand Prix was extended to 2035 earlier this month, while Miami got its extension through 2041 last month.

Other Grands Prix with more than a decade to run on their contracts are Bahrain, which agreed a deal in 2022 that is valid through 2036, and the Australian Grand Prix in Melbourne has an agreement through 2037.